GCC JUICE MARKET - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

GCC JUICE MARKET - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The GCC juice market is projected to grow at a CAGR of 6.8% during the forecast period, 2020 - 2025.

Key Highlights

• Across the Middle Eastern countries, the demand for juices and nectars has doubled over the past couple of years, mostly for premium juice products. Consumption is rising, driven by the affluent Gulf States, mainly Saudi Arabia and United Arab Emirates. Higher demand for value-added products, such as juices containing vegetables, seeds and other ingredients has been witnessed in recent years.
• Fruit juice is expected to account for a lion’s share in the market studied. Novel offerings by brands along with growing consumer awareness towards juice consumption, further propelled by disposable income are some of the factors driving the demand.

Key Market TrendsThe Changing Pattern of Beverage Consumption among Saudi Consumers

The absense of alcoholic beverages, and advertising energy drinks has been outlawed and a partial ban on energy drinks sales from certain types of facilities has been imposed in Saudi Arabia. This has led the soft drinks market to flourish in Saudi Arabia, further propelled by a hot climate and a large youth market that is attracted to western lifestyle products. In per capita terms, consumption of soft drinks has increased from 217 litres in 2004 to more than 320 litres in 2017, over the period.

The Saudi market has a significant number of characteristics for international investors that are of particular interest. In most markets, the alcoholic drinks sector pose a stiff competition for soft drink sector , which is not a factor in the KSA where alcohol is prohibited. Furthermore, the regularity of rehydration citing the year-round hot climate in Saudi Arabia, is one of the major factor that has led the beverage market to flourish. At the expense of carbonated drinks, higher value drinks such as 100% premium juice, followed by vitamin water and funcional drink are expected to be the main growth drivers over the coming years.

Sales Through Supermarket & Hypermarkets is Anticipated to Grow Significantly

The GCC Retail Industry is experiencing unprecedented change where more price conscious customer than ever before are entering the market, mostly followed by the growing share of immigration patterns and an active connection with media across all platforms. Furthermore consumers are also looking for personalization, value, experience and convenience.

Several large-scale malls and shopping centers, that has a destined section solely for the supermarkets are currently under development in the GCC, amid governments and private players investments in developing infrastructure to complement the growing population, a rising tourism sector and increasing GDP per capita.

The sales of juices through retail e-commerce market in the GCC is expected to expand given the increasing penetration of smart-phones and use of social media platforms. Moreover, better access to secure payment gateways along with gradual improvement in logistics capabilities is increasing penetration levels resulting in the growth of the industry.

Competitive Landscape

The GCC juice market is a highly-fragmented market, with numerous local and global players operating across the country. Thus, to sustain their positions in the market, the active players are rolling out new offerings, in order to cater to consumers’ increasing demand for mixed juice beverages.

Key players are now focussing on capacity expansion, in order to increase production and reach out to more consumers. On the other hand, mergers and acquisition of local brands have been prominent that enables them to share technical expertise and existing product portfolio.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned
 
Almrai Company
Del Monte Foods
The Coco Cola Company
Pepsico
The Berry Company
Al Rabie
Robinsons
Union Beverages Company
Binghatti Holdings

Please note: This publisher does offer titles that are created upon receipt of order. If you are purchasing a PDF Email Delivery option above, the report will take approximately 2 business days to prepare and deliver.